Segro agrees terms of possible offer for Brixton

SimonKennedy

LONDON (MarketWatch) -- U.K. property investment group Segro
SGRO, +2.23%
said Monday that it has reached an agreement with the board of Brixton Plc
uk:bxtn
over the terms of a possible recommended offer for Brixton. Segro said that under the proposed offer it would swap every Brixton share for 1.75 of its own shares. The company added that any offer would be dependent on the completion of due diligence, the finalization of documentation and the final approval of the Segro board. Segro also said that any offer would likely be accompanied by a further issue of new Segro shares to raise around 250 million pounds of additional capital.

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